ASX moves over 9,000 to hit record intraday high
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More news: Australian shares moved over the 9,000 mark in morning trade as the S&P/ASX 200 index reached a new intraday high.
The benchmark was up 95.3 points, or 1.06%, to 9,086.2 at midday AEDT. Its record closing high is 9,019.1, set on 21 August.
Ten of the 11 sectoral indices were in positive territory, with only tech stocks trading lower.
Real estate (+2.4%) and financial (+1.7%) companies saw the largest gains. Property giants Goodman Group (+3.7%) and Stockland (+3.9%) rose sharply, while major banks Macquarie (+4.1%), ANZ (+1.7%) and Commonwealth Bank (+1.2%) climbed.
ASX opens marginally higher as AMP rockets
More news: Australian shares edged higher at the open as a surge in real estate stocks helped offset a selloff in the tech sector. The benchmark S&P/ASX 200 index was up 4.3 points, or 0.05%, to 8,9957.2 at 10:30am AEDT, though just four of the 11 sectoral indices were in positive territory.
Real estate (+1.4%) was the best performing segment, as property giant Goodman Group added 2.3%.
Wealth manager AMP (+14.2%) led gains on the ASX 200 after delivering a 3.6% increase in assets under management in the September quarter.
Infrastructure investor Infratil (+4%) rallied after its part-owned data centre developer CDC agreed a strategic partnership with Nvidia and Firmus Technologies.
Most of the top performers in early trading with gold miners, led by Genesis Minerals (+6.6%), Regis Resources (+4.9%) and Vault Minerals (+4.1%), tracking further advances in benchmark gold prices.
Australian shares to edge higher as big banks, AI stocks lift on Wall Street
The news: Australian shares are set to edge higher at the open after the S&P 500 climbed for the third straight session, boosted by quarterly reports from US banks.
The numbers: Updated at 7:30am AEDT:
- ASX futures: up 2 points, or 0.02%, to 8,998
- Wall Street: Dow Jones down 0.04%, S&P 500 up 0.26% and Nasdaq up 0.66%
- Europe: CAC 40 up 1.99%, DAX down 0.23% and FTSE 100 down 0.30%
- Spot gold: up 1.59% to USD4,209 per ounce
- Oil prices: Brent down 0.03% at USD62.22/bbl and US WTI flat at USD58.60/bbl
- AUD: up 0.42% to 65.11 US cents
- Bitcoin: down 1.44% to USD111,478.
The context: Morgan Stanley (+4.7%) and Bank of America (+4.6%) both rallied after topping Wall Street estimates for third-quarter profit. They followed broadly positive reports by major lenders during the previous session.
The Philadelphia Semiconductor Index added 3% after ASML (+2.7%) reported third-quarter orders and operating income above market expectations. The lift came as an investment consortium including BlackRock, Microsoft and Nvidia agreed to buy Macquarie Asset Management-owned Aligned Data Centers.
Elsewhere, US Treasury Secretary Scott Bessent stoked tensions with China, calling it an “unreliable partner” over rare earth export controls and publicly labelling Chinese Vice Minister Li Chenggang “very disrespectful.”
In the local market, property developer Stockland, winemaker Treasury Wine Estates, and rail freight operator Aurizon are among the companies set to host their annual general meetings this morning.
